Is racism good or bad

Neither. It strongly depends on what you mean by racism.

If by racism you mean the hatred towards different races then yours then yeah, it's generally considered a bad thing although one has to understand the situations which generate such hatred.

This is the correct definition: "Racism is the belief that human races exist and these races possess different abilities and characteristics and that some races are better at some things than others."

That is in no way bad or good, it's a more than legitimate belief which involves no hatred.

Answer: Racism is bad, period. That's whether it is a legitimate belief or not; it only causes many to act inappropriately towards someone of another race and say hurtful, sometimes vicious things.